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Northern Va. Chamber unveils road map to reinvent economy
The Northern Virginia Chamber of Commerce on Monday released a road map on reinventing the region's economy.
US stocks drift after an encouraging report on inflation
NEW YORK (AP) — U.S. stock indexes are drifting around their record levels on Wednesday following a better-than-expected update on inflation across the country. The S&P 500 was virtually unchanged in early trading and just below its all-time high set last week. The Dow Jones Industrial Average was up 62 points, or 0.1%, as of 10 a.m. […]
The tariff-driven inflation that economists feared begins to emerge
WASHINGTON (AP) — Inflation rose last month to its highest level since February as President Donald Trump‘s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% […]
Most US stocks fall, but Nvidia keeps Wall Street near records
NEW YORK (AP) — Most U.S. stocks are falling on Tuesday after an update on inflation hurt Wall Street’s hopes for lower interest rates. But indexes are staying close to their records thanks to Nvidia, the market’s most influential stock. The S&P 500 was down 0.1% in midday trading and just a bit below its all-time high, […]
US inflation accelerated in June as Trump’s tariffs start to bite
WASHINGTON (AP) — Inflation rose last month to its highest level since February as President Donald Trump‘s sweeping tariffs are pushing up the cost of a range of goods, including furniture, clothing, and large appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of […]
White House budget director accuses Fed chair of violating building rules in renovation
WASHINGTON (AP) — White House budget director Russell Vought suggested in a Thursday letter that Federal Reserve Chair Jerome Powell is in violation of government building rules in the renovation of the Fed’s headquarters. Vought, in a letter he shared on social media, called the initial renovation plans featuring rooftop terrace gardens, VIP dining […]
Stocks drift as Wall Street awaits key jobs report
NEW YORK (AP) — U.S. stocks are drifting on Wednesday, as Wall Street’s record-breaking rally slows ahead of a highly anticipated report coming Thursday about the U.S. economy. The S&P 500 was edging up by 0.1% in morning trading, coming off its first loss after hitting all-time highs in back-to-back days. The Dow Jones Industrial Average was […]
Trump ramps up attacks on the Federal Reserve but Powell sticks to ‘wait and see’ stance
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump‘s tariffs effect the economy, despite the steady stream of criticism from the White House, which wants lower borrowing costs. Powell, speaking in Sintra, Portugal, at a conference […]
Federal Reserve’s Bowman says rate cut should be on table in July
WASHINGTON (AP) — Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House. Bowman said that President Donald Trump‘s tariffs have so far not caused the jump in inflation that […]
Borrowers looking for lower costs will have to wait as the Fed is unlikely to cut rates
WASHINGTON (AP) — The inflation-fighters at the Federal Reserve are expected to keep their key interest rate unchanged Wednesday for the fourth straight time. That’s likely to shift attention to how many interest rate cuts they forecast for this year. It’s widely expected that the 19 Fed officials that participate in the central bank’s interest-rate decisions […]
Wall Street rises as oil prices ease and the countdown ticks to the Fed’s decision on interest rates
NEW YORK (AP) — U.S. stocks are rising on Wednesday as Wall Street waits to hear where the Federal Reserve may be taking interest rates. The S&P 500 was 0.5% higher in morning trading. The Dow Jones Industrial Average was up 244 points, or 0.6%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.6% higher. […]
Israel-Iran conflict fuels oil surge, economic fears grow
Israel’s attack on Iran Friday has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households. Oil and gold surged and the dollar rose as markets retreated, signaling a flight to investments perceived as more safe. After years of sky-high inflation in the […]
